Posted 2/27/2024, 5:12:26 PM
FTC Sues to Block $25 Billion Kroger-Albertsons Merger Over Inflation and Competition Concerns
- Inflation and rising food prices formed a backdrop to the proposed $25 billion Kroger-Albertsons merger and concerns about the impact on consumers
- The FTC lawsuit argues the merger would reduce competition and could lead to higher prices, while the companies contend it would lower costs
- Consolidation continues in the grocery industry, even as small independent grocers struggle to survive
- The FTC's aggressive approach reflects a broader effort under Biden to reinvigorate antitrust enforcement
- The fate of the deal is still uncertain despite the FTC's action, though labor unions and some lawmakers supported blocking it